U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY WAR." According to Trump's post, the ceasefire will begin approximately six hours after his announcement, when both nations have "wound down and completed their in progress, final missions." The agreement stipulates a 12-hour initial ceasefire period initiated by Iran, followed by Israel joining the ceasefire at the 12th hour. Trump stated that upon the 24th hour, there will be an "Official END" to the...
Oil prices fluctuated as traders weighed a large increase in US crude stockpiles against renewed US efforts to restrict Iranian crude exports. West Texas Intermediate crude prices fluctuated between gains and losses, trading above $68 per barrel, after two days of gains. US crude oil stocks rose by 7.1 million barrels last week, the largest increase since January, according to the Energy Information Administration (EIA) on Wednesday. At the same time, the US Treasury Department imposed sanctions on 22 foreign entities for their role in facilitating Iranian oil sales. "Despite the...
Currency markets have slipped into a mid-week lull by the look of things this morning. The US Dollar (USD) is little changed in broad terms and the core majors are narrowly mixed, with minor losses for the CAD and EUR against minor gains for the AUD, GBP, NZD (despite a 'dovish hold' decision by the RBNZ) and SEK, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note. USD idles US yields slip off yesterday's peaks"The MXN is the top-performing major currency with an intraday gain of less than 0.1%. Stocks are in a positive mood (amid signs that EU/US trade talk are...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC) Meeting Minutes. The US Dollar Index (DXY) is rising to its highest level in two weeks, pushing XAU/USD below $3,300 at the time of writing. The upcoming release of the FOMC Minutes from the June meeting is expected to shed light on the Fed's internal debate over the path of monetary policy. In June, the central bank opted to maintain its benchmark interest rate at 4.25% to 4.50%, citing a...
The US Dollar has trimmed previous gains on Wednesday's European session, as market sentiment improved, and is trading with marginal gains against the Yen, nearing the mid-range of the 146.00s after rejection at 147.15. The pair appreciated about 1.5% over the previous two days, after a letter from President Trump announced 25% tariffs on all products from Japan, and moved the deadline to August 1 from the original July 9. Hopes of a trade deal are keeping the Yen from falling furtherTrade negotiations between the two countries are going on, and the US Secretary, Scott Bessent, is expected...
Gold price (XAU/USD) maintains its offered tone heading into the European session and currently trades well below the $3,300 mark, or over a one-week low touched earlier this Wednesday. Expectations that steep US tariffs would underpin inflation in the coming months and force the Federal Reserve to keep interest rates steady for an extended period remain supportive of elevated US Treasury bond yields. This, in turn, assists the US Dollar (USD) to stand firm near a two-week low and is seen as a key factor undermining the non-yielding yellow metal. Meanwhile, the global risk sentiment...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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